Procurement & Purchasing Management

A career in purchasing can be fun and rewarding if you have the right skill set to succeed on the job. According to the Bureau of Labor Statistics, there are about 526,000 purchasing related jobs, and the median annual wage for purchasing managers was $121,110 in May 2019.

Buyers and purchasing agents buy products and services for organizations to use or to resell. But the job isn't as simple as just shopping. These professionals must consider many factors when purchasing such as budget, price, availability, demand, logistics, reliability of suppliers, and technical support. Purchasing managers oversee the work of buyers and purchasing agents. In addition, they must be able to accurately report on activity and forecast future events.

The Procurement & Purchasing Management course will introduce you to the basics of the supply chain process, management, purchasing, and contracting issues to provide you with the skills you need for a successful career. It is designed for anyone working in or interested in working in purchasing, logistics, or procurement.

What you will learn

• How to prepare and manage a budget in an organization
• How to manage the supplier selecting process
• How to manage the contracting process
• How to evaluate price and costs
• Effective negotiation and communication techniques

How you will benefit

• Gain the practical skills and knowledge you need to enter a purchasing organization.
• Prove to employers that you have mastered the skills to work in purchasing.
• Gain confidence in your ability to speak the languages of purchasers and negotiate deals.

1. Purchasing Management
   1. Essentials of Purchasing
   2. Budgeting Essentials
   3. The Procurement Process
   4. Supplier Contracting
   5. Price and Cost Analysis
   6. Management Essentials
   7. Negotiation Strategies
   8. Persuasive Communication
   9. Legal Aspects of Contracts
2. Essentials of Purchasing
   1. Purchasing function in the organization
   2. Interdependencies the purchasing function has within the organization
   3. The impact the purchasing function has on the financial statements
   4. Organization and administration aspects of purchasing
   5. Global sourcing in purchasing
   6. Regulatory agencies
3. Budgeting Essentials
   1. Concept of budgeting
   2. Activity-based budgeting
   3. Factors that impact budgeting
   4. Production Planning
   5. How inventory impacts the budgeting process
4. Procurement Process
   1. Elements of supplier selection process
   2. The supplier evaluation process
   3. The bidding process
   4. The procurement process
5. Supplier Contracting
   1. General Contract Principles
   2. Contract drafting
   3. Types of contracts used in purchasing
   4. Agency law determines who has the authority act on behalf of the organization
6. Price and Cost Analysis
   1. Price evaluation
   2. Use of data
   3. Strategic cost analysis
   4. Maximizing the timing of cash-in and cash-out for your organization
   5. Using outsourcing in your organization
7. Management Essentials
   1. The culture of an organization
   2. Organizational change and resistance to change
   3. Power and influence leaders use
   4. Leadership theories
   5. Strategies and Strategic thinking
   6. Decision-Making
   7. Managing quality with "best practices"
   8. Human Resource procedures and policies
   9. Financial accountability
8. Negotiation Strategies
   1. Steps in Negotiating
   2. Tools used in the negotiation process
   3. Types of negotiations
   4. Personality types in negotiations
   5. Preparing for negotiations
   6. Determining your BATNA in negotiations
9. Persuasive Communication
   1. Fundamentals of communication
   2. The importance of knowing the audience in persuasive communication
   3. The power of listening
   4. Credibility of the speaker is key in persuasion
   5. Evidence in persuasion
   6. Emotion in persuasion
   7. Organizing the argument
   8. Defining of strategic management in operations
   9. Mindset of strategic thinking
   10. Strategic planning models
   11. Questions to ask when creating strategic alternatives
   12. Criteria for implementation
10. Legal Aspects of Contracts
    1. Introduction
    2. What is a Contract?
    3. Elements of a Contract
    4. Duties and Obligations
    5. What is the Deal?
    6. Legal Representation
    7. Good Faith and Conclusion

Requirements:

Hardware Requirements:

• This course can be taken on either a PC or Mac.

Software Requirements:

• PC: Windows 7 or later.
• Mac: OS X Snow Leopard 10.6 or later.
• Browser: The latest version of Google Chrome or Mozilla Firefox are preferred. Microsoft Edge and Safari are also compatible.
• Microsoft Office or equivalent (not included in enrollment).
• Adobe Acrobat Reader.
• Software must be installed and fully operational before the course begins.

Other:

• Email capabilities and access to a personal email account.

Instructional Material Requirements:

The instructional materials required for this course are included in enrollment. The following textbooks will be shipped to you approximately 7-10 business days after enrollment:

• The Essential Manager's Handbook

Prerequisites:

There are no specific prerequisites for this course.

Can I register for courses if I am an international student?

Yes, ed2go courses are completely online. However, keep in mind that not all certifying bodies or industry-specific certifications are recognized internationally. Please review your country's regulations prior to enrolling in courses that prepare for certification.

Does this course prepare for a certification?

No.

When can I start this course?

This course is open enrollment, so you can register and start the course whenever you are ready. Access to your course can take 24-48 business hours.

How long does it take to complete this course?

After you register, you will receive 6 months to complete the course. The time allotted for completion has been calculated based on the number of course hours.

What if I don't have enough time to complete the course within the time frame provided?

If you are unable to complete the course, contact your Student Advisor to help you work out a suitable completion date. Please note that an extension fee will be charged. If you are funded through a third-party organization, approval may also be required.

What kind of support will I receive?

The course instructor will be available by email to answer any questions you may have and to provide feedback on your performance. Occasionally, your course may be supported by a team of industry experts. You will also be assigned a Student Advisor for academic support.

What happens when I complete the course?

Upon successfully passing the final exam, you will be awarded a certificate of completion from the school or organization that you registered through.

Am I guaranteed a job?

ed2go courses will help you gain the skills you need to obtain an entry-level position in most cases. However, you should always research the job market in your area before enrolling.

Can I get financial assistance?

ed2go courses are non-credit, so they do not qualify for federal aid, FAFSA, and Pell Grant. In some states, vocational rehab or workforce development boards may provide funding to take our courses. Additionally, you may qualify for financial assistance if you meet certain requirements. To learn more about financial assistance.

How can I get more information about this course?

If you have questions that are not answered on our website, representatives are available via LIVE chat. You can also call us at 1-877-221-5151 during regular business hours to have your questions promptly answered. If you are visiting us during non-business hours, please send us a question using the "Contact Us."